The Berkeley Lake City Council will vote to reduce the city’s 2018 millage rate to 2.005 mills from 2017’s 2.269 mills at 7 p.m. at their next council meeting July 2 at City Hall, 4040 S. Berkeley Lake Road.
Under Georgia’s Taxpayer Bill of Rights municipalities must advertise higher revenues resulting from increased property assessments unless they adopt the ‘rollback rate,’ determined through a complex calculation designed to keep revenues the same as in the previous year. In Berkeley Lake’s case, the proposed lower millage rate is an additional 5.2 percent below the rollback rate.
As an example, for a home with a fair market value of $400,000 in 2017, the city property tax was $363.04. For a $400,000 home in 2018, the tax will be $320.80, which represents an 11.64 percent reduction in taxes year to year if the home is valued at the same amount in both years.
The current year’s tax digest and levy, along with a history of the tax digest and levy for the past 5 years is available online at www.tinyurl.com/BLTaxDigest.
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